Swedish Krona Falls To 5-day Low Against Euro
December 22 2014 - 04:34AM
RTTF2
The Swedish krona retreated from its early high and fell against
the euro in the early European session on Monday.
Meanwhile, data from Statistics Sweden showed that Sweden's
retail sales growth slowed more than expected in November. The
retail sales volume increased 4.5 percent year-on-year in November,
the same rate of growth as seen in October.
Retail sales grew at a pace of 0.5 percent on a monthly basis,
slower than the revised 1.1 percent increase seen in October.
Economists had forecast a 0.7 percent rise for November.
Against the euro, the krona fell to a 5-day low of 9.5086 from
an early high of 9.4435. At last week's close, the krona was
trading at 9.4417 against the euro.
If the krona extends its downtrend, it is likely to find support
around the 9.73 area.
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